3i Infotech and ISO Rating Service Announce Preferred Partnership.EDISON, N.J. -- 3i Infotech's PREMIA(TM) solution becomes ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. Rating Service compliant, and combined offering provides added functionality and benefits for insurers 3i Infotech (www.3i-infotech.com), a global provider of IT solutions and services, is pleased to announce the integration of its PREMIA(TM) policy-management solution with the ISO Rating Service, a policy rating system and rate-management solution for property and casualty insurers. "3i Infotech's PREMIA clients will benefit from the added functionality of the ISO Rating Service," said Domenick Yezzi, Vice-President - Specialty Commercial Lines, ISO. "The ISO Rating Service enables insurers to manage their sales and service functions more efficiently. ISO's rating solution improves overall customer care for the distributors and policyholders of insurance companies. " "We are pleased to announce this affiliation with a highly respected rating content provider such as ISO," said Vivek Sethia, Vice President - Insurance, 3i Infotech Inc. "This relationship will deliver added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
The combined solution adds ISO's automated, pre-validated advisory content, insurance program customization and advanced rate-maintenance capabilities to PREMIA's existing insurance management solutions. PREMIA provides powerful business functionality, supports quoting, policy administration, billing, claims, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and accounting on a single platform and is supported by a single vendor as a single solution. The joint solution will now provide PREMIA clients with tools to manage rating information and review changes before implementation. "Our clients will benefit from the robust functionality underlying the ISO Rating Service. We look forward to working with ISO and our mutual clients in future," added Sethia. About 3i Infotech Inc 3i Infotech (www.3i-infotech.com) provides information technology solutions through its range of solutions for insurance, banking, finance, manufacturing, retail and distribution, and e-Governance. It is one of India's top 5 software product companies and the fastest growing Indian software product company in FY 2004-2005, with respect to both domestic as well as overseas software product sales*. The company is SEI CMM SEI CMM Software Engineering Institute Capability Maturity Model Level 5-compliant for its Software Services and the company is ISO 9001:2000 certified See certification. for its Infrastructure and Business Process Outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in Services. Using its domain knowledge and through continuous investment in technologies, 3i Infotech helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, system integration services, IT infrastructure and disaster recovery solutions. 3i Infotech serves customers in 45 countries has a presence across 4 continents. (*) Source: Dataquest Special Issue: Industry Overview (July 15, 2005) About ISO ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services health services Managed care The benefits covered under a health contract , government and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . Professionals use ISO's databases and services to classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. and evaluate a variety of risks and detect potential fraud. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and around the world, ISO's services help customers protect, people, property and financial assets Financial assets Claims on real assets. . For more information, visit www.iso.com. Disclaimer: Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. |
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